Slovakia to buy out ČEZ stake in JESS for 189.4 million euros

The Slovak government has approved the buyout of the Czech group ČEZ’s 49 percent minority stake in Jadrová energetická spoločnosť Slovenska (JESS). The transaction is valued at 189.4 million euros (approximately 4.6 billion CZK). Following the acquisition, the state-controlled company JAVYS will hold a 100 percent stake in JESS.

This move aims to facilitate the development of a new nuclear power plant at the Jaslovské Bohunice site, which is expected to have an installed capacity of approximately 1200 megawatts. The project is considered a strategic investment with an estimated minimum cost of 10.938 billion euros and a target completion date of 2040. The funds for the buyout will be released from state financial assets as a shareholder contribution to a capital fund.

Previously, the valuation of the stake had caused disputes between Prime Minister Robert Fico and the Ministry of Economy, but a new assessment has confirmed the original valuation of ČEZ’s share.